The S&P/ASX 200 index is on course to finish the week on a high. In afternoon trade the benchmark index is up 0.6% to 6,747.8 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:
The AP Eagers Ltd (ASX: APE) share price is up a sizeable 5% to $10.03. Investors have been buying the auto retailer’s shares today after S&P Dow Jones Indices announced that it would be adding it to the S&P/ASX 200 index at the next quarterly rebalance. It will be joining the benchmark index at the open of trading on December 23.
The Appen Ltd (ASX: APX) share price is up almost 2.5% to $22.34. The catalyst for this gain has been news that analysts at Bell Potter have upgraded Appen’s shares to a buy rating. Bell Potter has a $27.50 price target on its shares. It believes Appen’s profit result in February will come in ahead of its guidance. This is because of management’s track record of under-promising and overdelivering.
The Bravura Solutions Ltd (ASX: BVS) share price has jumped almost 10% to $5.44. This follows favourable election news out of the United Kingdom. At the time of writing, current prime minister, Boris Johnson, looks set to win the UK election by a significant margin. Which will mean the UK is likely to leave the EU at the end of January. This news has gone down especially well with shares exposed to the UK market.
The Polynovo Ltd (ASX: PNV) share price is up 14% to $1.98. Investors have been buying the medical device company’s shares after its NovoSorb BTM product was granted a certificate of conformance (CE Mark) approval for sale throughout UK/Ireland and the European Union. Management described this as a watershed moment for PolyNovo.
The post Why AP Eagers, Appen, Bravura, & Polynovo shares are pushing higher today appeared first on Motley Fool Australia.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019